Gibraltar, Gibraltar Gibraltar (PressExposure) November 04, 2008 -- (Gibraltar, 30th October 2008) â Gibraltar-based iCoins Limited has announced the launch of its newest Facebook free to play lottery game called Hotcoins. This unique game, which can be played at [http://apps.new.facebook.com/hotcoins], encourages the concept of creating digital cash and passing it on to friends on popular social networking website Facebook.

âHotcoins embodies the âpay it forwardâ concept. What makes this Facebook-based online lottery game truly one of a kind is that there is no charge to play it and all a user needs to do is send as little as $1 worth of Hotcoins to a friend in order to get 2 tickets in the draw. Hotcoins provides that unique platform wherein a person can send a gift to a friend and be in the draw for a prize at the same time,â said iCoins CEO Adriaan Brink.

iCoins Limited operates the iCoins digital cash system (www.iCoins.com) which also runs a Facebook application called Coinjars (http://apps.facebook.com/coinjars). Coinjars makes it possible for a user to send, receive and redeem money, payments or even donations right within Facebook.

In Hotcoins, players even have the option to ask for the money back and the person they sent the money to can return it to their friend. At the time of the draw, all Hotcoins are moved back to the playersâ iCoins accounts and they have the option to redeem the money through any linked payment provider, use it to play another game, or transfer the money to another Hotcoins player. A winner will be drawn weekly.

Brink explained that the prize per draw is provided as an incentive to explore the concept of having and moving digital cash in and outside Facebook.

The iCoins chief executive also said that they promote the use of iCoins âbecause theyâre freely transferable, legal, fast, anonymous and guaranteed at face value. We donât impose any charges at all as long as the iCoins stay digital. Transfers are free of charge. A user also need not have a bank account or a credit card,â adding that âiCoins make it very easy for anybody to move digital cash and you can even use them in sending donations to a favorite charity or sending payments to an employee. It is a system that provides the functionality of cash in an electronic medium.â

âWe are optimistic that with iCoins and integrated eWallets such as Coinjars, people will become accustomed to this more viable, cost-effective way to deal with online payments and money transfersâ Brink stated.

Both Hotcoins and Coinjars are clients of, and all treasury funds are underwritten by, MintFlow Ltd. in the Isle of Man, a licensed eMoney issuer.

iCoins, based in Gibraltar, are developers and operators of an electronic cash system that can be integrated with 3rd party wallet servers. iCoins is a digital cash mechanism designed to allow cash transactions between disparate and unrelated Wallet systems in the digital era. iCoins are similar to bank notes. They can be acquired by a consumer on application to a suitable issuer (similar to a bank in the real world) and are always worth their face value in real money.